Mumbai: Domestic equity market benchmarks Sensex and Nifty settled over 2 per cent lower on Friday weighed by sell-off in index heavyweights such Axis Bank, IndusInd Bank and ICICI Bank. S&P BSE Sensex ended 674 points or 2.39 per cent down at 27,591, while broader Nifty50 index finished below the crucial 8,100 level, down 170 points or 2.06 per cent. As many as 21 stocks out of 30 Sensex stocks settled in deep sea of red with Axis Bank as the top Sensex loser, down 8.86 per cent, followed by IndusInd Bank, ICICI Bank and Titan. On the flip side, Sun Pharma was the top Sensex gainer with a growth of 9.5% to Rs 376. ITC, ONGC and M&M were among the other gainers on the index. Except for Nifty FMCG and Nifty Pharma, all the sectoral indices finished in red today. Nifty Bank index dropped 5.27 per cent weighed by RBL Bank, Axis Bank and IndusInd Bank. While Nifty FMCG index traded higher led by gains in ITC, Emami and Colagte-Palmolive.
The World Bank has approved USD 1 billion emergency funding for India to help it tackle the coronavirus pandemic, which has claimed 76 lives and infected 2,500 people in the country. The World Bank’s first set of aid projects, amounting to USD 1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday. The largest chunk of the emergency financial assistance has gone to India – USD 1 billion. “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said.
